Have a Tax Issue With the IRS? You Could Always Take Them to Court
What would you do if the IRS makes a decision you don’t agree with? For example, let’s say you file a tax return and send it in expecting to receive a refund of $1,500. However, a few weeks later, instead of receiving your refund, you get a letter in the mail informing you that you made a mistake and you will only be receiving $1,100. You’d be upset for sure, but most people probably figure there’s nothing they can do about it.
Actually, that’s not the case. Did you know that if you disagree with the IRS on your return you could ask them to change their decision? That sounds like a futile move, right? Why would they change their mind? There is another option, though. If you really feel that you have been treated unjustly you can take the IRS to the United States tax Court. That doesn’t sound very fun, either, but it is an option.
The good news is that the U.S. Tax Court is not affiliated with the IRS. That means the IRS is in the same boat as you if your case goes to trial. There are several reasons that people decide to challenge the IRS in court, which include:
- The IRS assess a deficiency
- An abatement request
- Request relief from a joint return
- Disagreements on worker classification
- Summons enforcement
- Gross income
- Accuracy-related penalty
While most people would rather not spend any more time dealing with the IRS than they have to, if you do feel you have been treated unfairly by the tax agency, then you don’t have to just sit back and take it.
How Are Some Big U.S. Companies Shrinking Their Tax Bill?
Every company wants to save on its tax bill. Although tax inversions have been making a lot of news lately, there are many other methods that corporations use to cut back on their taxes. In fact, seven companies in the S&P 500 index, including some big names that everyone is familiar with, have been able…
Democrats Take Dead Aim at Tax Inversions
The democrat lead U.S. Senate has been making a lot of noise lately regarding tax inversions, the practice of U.S. companies moving their corporate headquarters overseas in order to avoid the high price of overbearing U.S. corporate taxes. Those senators have apparently made good on a recent promise that they would look to put a…
How to Find the Right Investment Advisor
Are you looking to invest? Perhaps you just want some help with your financial planning or even your estate planning. Finding someone that can truly help you is difficult sometimes, simply because there are so many options to choose from. The Internet is full of so-called experts that can help you make wise investments and…
What’s the Deal With U.S. Corporate Taxes?
What’s the Deal With U.S. Corporate Taxes? There has been a lot of back-and-forth amongst lawmakers and political pundits in the media lately regarding U.S. companies switching their addresses to foreign locations in order to avoid corporate taxes. One side claims that there is nothing wrong with such deals, while many democratic lawmakers, including President…